Gas deals signed with Mereenie and Palm Valley
Australia’s Northern Territory has secured a 6-year gas supply deal with Mereenie and Palm Valley joint ventures.
The agreements, which will commence from 2025, will provide energy security to the Territory until the end of 2030.
Central Petroleum, New Zealand Oil & Gas, Horizon Australia Energy and Cue Energy from the Mereenie and Palm Valley Fields, both located in the Amadeus Basin of the Northern Territory, will supply the gas, providing up to 29 Terajoules of gas per day.
The Mereenie and Palm Valley joint gas fields have a long history of providing energy to fuel mining and industry in the Territory and this GSA provides around 40% of the Northern Territory gas demand.
Central Petroleum Managing Director and Chief Executive Officer, Leon Devaney, said: “The Mereenie and Palm Valley joint venture partners are excited to play a critical role in supplying Territory gas to Territorians with these firm, long-term domestic gas contracts which are backed by proven reserves.
“The Mereenie and Palm Valley Fields are the largest onshore gas production fields in the Territory and have been secure energy sources for over 40 years.
“These fields contain over 200 PJs of 2P reserves (9 years of NT current demand), and these contracts facilitate accelerating further investment to increase gas production and provide future energy for the Territory.”
Within the Territory the Mereenie and Palm Valley joint ventures provide over 40 working opportunities for Territorians in Central Australia.